Selected Recent Articles and Working Papers

"OTC-Cleared Derivatives: Benefits, Costs, and Implications of the 'Dodd-Frank Wall Street Reform and Consumer Protection Act'." Journal of Applied Finance No. 2 (2010).

"Returns, Risk, and Financial Due Diligence." In Finance Ethics: Critical Issues in Theory and Practice. J. R. Boatright, ed. (Wiley, 2010). (with J. B. Heaton)

"Structured Financing Techniques in Oil and Gas Project Finance: Future-Flow Securitizations, Prepaids, Volumetric Production Payments, and Project Finance Collateralized Debt Obligations." In Energy and Environmental Project Finance Law and Taxation: New Investment Techniques. A. S. Kramer and P. C. Fusaro, eds. (Oxford University Press, 2010). (with J. Paul Forrester)

"Financial Transaction Taxes: The Issues and the Evidence." Cayman Financial Review No. 20 (2010Q3).

"The Shape of CDOs to Come." Cayman Financial Review No. 18 (2010Q1). (with J. Paul Forrester)

"Financial Transaction Taxes: Benefits and Costs." Compass Lexecon White Paper (March 2010).

"The Social Functions of Financial Derivatives." In Financial Derivatives: Pricing and Risk Management. Robert Kolb and James Overdahl, eds. (Wiley, 2010).

"Catastrophe Reinsurance and Risk Capital in the Wake of the Credit Crisis." Journal of Risk Finance Vol. 10, No. 5 (2009). (with Kevin J. O'Donnell)

"Contingent Capital vs. Contingent Reverse Convertibles for Banks and Insurance Companies." Journal of Applied Corporate Finance Vol. 21, No. 4(Fall 2009).

"The Economics of Naked Short Selling." Regulation (Spring 2008). (with J.B. Heaton)

"The Uses and Abuses of Finite Risk Reinsurance." Journal of Applied Corporate Finance 17(3) (Summer 2005). (with J.B. Heaton)

"Contingent Capital: Integrating Corporate Financing and Risk Management Decisions." Journal of Applied Corporate Finance 15(1) (Spring 2002).

"The Revolution in Corporate Risk Management: A Decade of Innovations in Process and Products." Journal of Applied Corporate Finance 14(4) (Winter 2002).

"Measuring Risk for Asset Allocation, Performance Evaluation, and Risk Control: Different Problems, Different Solutions." Journal of Performance Measurement (Fall 1999). (with R. Mensink)

"The Case for an Indonesian Currency Board." Journal of Applied Corporate Finance. (Winter 1999). (with Steve H. Hanke and Merton H. Miller).

"Value at Risk for Asset Managers." Derivatives Quarterly 5(2) (Winter 1998). (with Ron Mensink and Andrea M. P. Neves).

"Financial Innovations in Leveraged Commercial Loan Markets." Journal of Applied Corporate Finance, 11(2) (Summer 1998). (with Andrea M. P. Neves)

"Value at Risk: Uses and Abuses." Journal of Applied Corporate Finance 10(4) (Winter 1998). (with Merton H. Miller and Andrea M. P. Neves)

"Risk Management by Securities Settlement Agents." Journal of Applied Corporate Finance 10(3) (Fall 1997). (with Andrea M. P. Neves)

"Hedging in the Theory of Corporate Finance." Journal of Applied Corporate Finance 8(1) (Spring 1995). (with Merton H. Miller)

"Auditing the Auditors." Risk 8(4) (April 1995). (with Merton H. Miller)

"Metallgesellschaft and the Economics of Synthetic Storage." Journal of Applied Corporate Finance 7(4) (Winter 1995). (with Merton H. Miller)